Financial Crisis

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#The Financial Crisis

The financial crisis happened in 2008 it mostly effected the whole world due to more than 1 main problem one of them was that the banks were lending people money and lots of people weren’t paying more money back that this was called the financial crisis. This happened because the Government didn’t want to choose even more stricter rules. Also if the money was being lended to too many people every one in the country (which is about approximately 65.13million people)they would of ran out of money which had happened in 2008 there was mostly £ 2,800,000,000,000 lost during it.

STORY

John wants to buy a house but he only has half the price of what he wants, he eventually asks the Bank if he could have the money for it he eventually does but he pays for the house but he doesn’t have any money left over to give back to the bank (this is what happened to many people in the world.)

I believe that the idea for having stricter rules for banks is good because in the situation they could check how much money someone has and see how much they could pay back also if they do have stricter rules everything will be fair and everyone (the bankers) could have some money as well and everybody in the world will be a much more safer from another crisis.

If there is stricter rules we will prevent us from having another crisis

Comments (1)

  • Boutcher-logo-250x250.jpg impartial_panda_bear
    Boutcher C of E Primary School 20 Dec 2018

    I really loved your example/story - I thought it was great how you linked it to the financial crisis in your own way. I agree that stricter rules would be great, but another idea is bankers get paid differently. I don't agree with the way the PowerPoint said how they should get paid, but someone in my group had the idea of Bankers getting rewarded for a mix of safe and risky work, over the course of a couple of years. I think that this is a good idea because it includes some of all the three ideas to prevent another financial crisis. Great post admirable_honeyberry and highspirited_dinosaur!

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